MLchartDataset catalogue

Trustee powers

Term · Law · MLC-T-LAW-005010

The specific authorities granted to a trustee by the trust instrument or by law to manage and administer trust assets. These powers typically include the ability to invest, sell, lease, or distribute trust property, as well as to incur expenses necessary for trust administration. Trustees must exercise these powers in the best interests of the beneficiaries and in accordance with fiduciary standards.

Table 1. Record
IdentifierMLC-T-LAW-005010
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-005010",
  "term": "Trustee powers",
  "field": "Law",
  "definition": "The specific authorities granted to a trustee by the trust instrument or by law to manage and administer trust assets. These powers typically include the ability to invest, sell, lease, or distribute trust property, as well as to incur expenses necessary for trust administration. Trustees must exercise these powers in the best interests of the beneficiaries and in accordance with fiduciary standards.",
  "url": "https://mlchart.com/terminology/law/trustee-powers/"
}

Record 5,121 of 5,441 in Law terminology (MLC-0107). Request the full dataset.